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600 Robbed Bitcoin Mining Machines From Icelandic Theft Might Be In China

May 08, 2018 Posted /  3468 Views

600 Robbed Bitcoin Mining Machines From Icelandic Theft Might Be In China

Icelandic media outlet RUV reported the missing machines from an unsolved Bitcoin (BTC) mining equipment robbery in Iceland that took place at the beginning of this year might be in China. Icelandic police are accounted to have now issued an enquiry to Chinese authorities after the news spilt in April that 600 devices used to mine Bitcoin had been confiscated in the northern city of Tianjin.

The quantity of seized machines precisely matches that of the missing equipment that was stolen in three thefts at data centres in Iceland last year and the beginning of this year. Icelandic police were able to distinguish and capture two of the fraudsters in February this year. One of them now faces a global arrest warrant, after he got away from an Icelandic jail and flew to Sweden in April.

The missing hardware has not been found to date. Its aggregate worth is estimated to be 200 million krónur, equivalent to nearly $2 million. Icelandic police have been checking energy utilisation locally for anomalous increases without progress.

It was exactly a system of exceedingly sporadic electricity use that is accounted to have grabbed the attention of a local operator of the grid, prompting the experts' seizure of the suspected mining equipment.

As per RUV, Chinese police have not yet reacted to the Icelandic enquiry.

With its cold atmosphere and broad access to sustainable energy, Iceland is a problematic area for digital currency mining. Nearby industry sources have anticipated a multiplying of the nation's digital currency mining energy utilisation this year, more power than Iceland's 340,000 inhabitants will devour for individual utilisation.

Having an access to geothermal and hydroelectric power plants makes mining in Iceland conceivably more environmentally friendly than in China's burning of coal mining locations.

The latest has for quite some time been a strong digital currency mining superpower. In 2017, purportedly 50 to 70% of Bitcoin mining occurred in China. However, at the beginning of this year, news spilt of plans to toughen territorial regulatory oversight and possibly in the future limit the power utilisation of miners.

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Tags: Bitcoin Mining Machines bitcoin Bitcoin Robbery

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